Download Accounts Payable With Aging Excel Template

Accounts Payable Template is a document which records invoices of goods purchased by us on credit. No upfront cash is paid. In other words, our creditors whom we are liable to pay them during a specific time.

All kind of Payable is the liability for any company and is recorded in the current liabilities section. Hence, Accounts Payable is a short-term debt which needs to be paid off to avoid default.

Normally, Accounts Payable is a credit balance. When you record a vendor invoice, you will credit Accounts Payable and debit another account as per the double-entry accounting system.

Simultaneously, when you pay your Accounts payable, you will debit Account payable and credit Cash. Therefore, the credit balance in Accounts Payable should be equal to the unpaid vendor invoices.

Accounts Payable is not a term which is used only in businesses. Even individuals like you and me have Accounts Payable.

For example, we consume electricity, telephone, broadband, cable TV etc services. These companies generate the bills towards the end of a particular billing period.

It means that the service provider gives us some service on credit. We need to make the payment of these services on a certain date or else you will default. This is our Accounts Payable.

I have created an Accounts Payable Template with advanced functions. With Accounts Payable Template you can efficiently and easily record entries. This template generates a vendor wise/creditors wise report in few clicks.

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